Kenneth Research, in its repository of market research reports, has recently added a report on Downhole Equipment Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Downhole Equipment Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Downhole Equipment Market products.
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A report on Downhole Equipment Market has been added by Kenneth Research into its market research repository. The report provides an extensive analysis of the market by determining the relationship between the dependent and independent variables through correlation and regression for the forecast period, i.e., 2021 2025. The report on Downhole Equipment Market further provides the supply and demand risks associated with the growth of the market, and consists of macro-economic indicators that are contributing to the market growth. The market is thriving on account of the growing trade on fuel worldwide, backed by the rising demand for energy from the end-users.
According to the statistics by the World Bank, exports of fuel increased from 12.91% of merchandise exports in 2001 to 14.25% of merchandise exports in 2018. Additionally, imports of fuel registered a growth by 1.28x between the years 2001 and 2018. In 2001, the import of fuel was 10.30% of merchandise exports whereas in 2018, it was 13.19% of merchandise exports. On the other hand, the increasing focus of the players in the energy and power industry to lower their cost of operations so as to enhance their profitability, is also anticipated to contribute to the market growth. The natural gas rents, which is defined as the difference between the total cost of production of natural gas and the production value at world prices, decreased significantly from 0.40% of GDP in 2001 to 0.18% of GDP in 2017. Alternatively, the oil rents, which increased from 1.09% of GDP in 2001 to 1.30% of GDP in 2019, portrays the need amongst the players to enhance their focus in reducing the cost of production of oil.
Kenneth Research has released a report on Downhole Equipment Market that studies the segments, trends, opportunities, growth drivers and restraints for the market throughout the forecast period, i.e. 2021 2025. The report further contains key matrices and industrial insights that helps decision makers to understand better about the market, including both the current scenario as well as the consequences in the coming years.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Downhole Equipment Market. The Global Downhole Equipment market has been analysed By Equipment (Flow & Pressure Control, Downhole Control, Impurity Control, Handling Tool, Drilling Tool), By Application (Well Drilling, Well Intervention, Well Completion, Formation & Evaluation, Oil & Gas Production). The Global Downhole Equipment market has been analysed By Region (Americas, Europe, APAC, ROW) and By Country (United States, Canada, Mexico, Norway, United Kingdom, Russia, China, India, Indonesia, Saudi Arabia, Qatar) for the historical period of 2014-2018 and the forecast period of 2019-2024.
According to the Azoth Analytics research report, Global Downhole Equipment market is likely to witness significant growth over the forecast period owing to rise in offshore and onshore oil and gas exploration and production activities, growing consumer demand for cleaner energy, growing economy as well as increasing government’s stringent regulations for safe and pollution free environment.
Asia Pacific Downhole Equipment market is projected to display a growth represented by a CAGR of over 5.20% during 2019 – 2024, primarily driven by growing economy and increasing oil and gas well exploration and production as well as surging government regulations for the use of cleaner fuel to reduce pollution. China is the biggest market in the current period and expected to be followed by India and Indonesia in forecast period. Market of Downhole Equipment is driven by rapid crude oil price reductions and growing customer demands for increased functionality.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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The report titled “Global Downhole Equipment Market: Analysis By Equipment (Flow and Pressure Control, Drilling Tool, Impurity Control, Downhole Control, Handling), Application (Well Drilling, Well Completion, Well Intervention, Formation and Evaluation, Oil and Gas Production), By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) – By Region (Americas, Europe, APAC, ROW), By Country (US, Canada, Mexico, Norway, UK, Russia, China, India, Indonesia, Saudi Arabia, Qatar)” has covered and analysed the potential of Global Downhole Equipment Market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation.
Scope of the Report
Global Downhole Equipment Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Global Downhole Equipment Market – Size, Growth, Forecast
• Analysis By Equipment – Flow & Pressure Control, Downhole Control, Impurity Control, Handling Tool, Drilling Tool
• By Application – Well Drilling, Well Intervention, Well Completion, Formation & Evaluation, Oil & Gas Production
Regional Analysis – Americas, Europe, Asia Pacific, ROW (Actual Period: 2018, Forecast Period: 2019-2024)
• Downhole Equipment Market (Value) – Size, Growth, Forecast
• Analysis By Equipment – Flow & Pressure Control, Downhole Control, Impurity Control, Handling Tool, Drilling Tool
• By Application – Well Drilling, Well Intervention, Well Completion, Formation & Evaluation, Oil & Gas Production
Country Analysis – United States, Canada, Mexico, Norway, United Kingdom, Russia, China, India, Indonesia, Saudi Arabia, Qatar (Actual Period: 2018, Forecast Period: 2019-2024)
• Downhole Equipment Market (Value) – Size, Growth, Forecast
• Analysis By Equipment – Flow & Pressure Control, Downhole Control, Impurity Control, Handling Tool, Drilling Tool
• By Application – Well Drilling, Well Intervention, Well Completion, Formation & Evaluation, Oil & Gas Production
Other Report Highlights:
• Industry Structure
• SWOT Analysis
• Market Dynamics – Drivers and Challenges
• Market Trends
• Porter Five Force Analysis
• Policy and Regulatory Landscape
• Product Benchmarking
• Competitive Landscape
• Company Analysis – Halliburton, General Electric, Weir Group, Aker Solutions, National Oilwell Varco, Schlumberger, Superior Energy Services, Forum Technologies, Essential Energy Services, Oil States International Inc.
The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research.
Table Of Content
1. Research Methodology
2. Executive Summary
3. Strategic Recommendation
4. Global Oil & Gas Industry Outlook, Year-2017
5. Global Downhole Equipment Market Environment
6. Downhole Equipment Outlook
7. Market Dynamics
7.1 Market Growth Drivers
7.2 Market Challenges
7.3 Market Trends
8. Competitive Landscape
8.1 Product Benchmarking
8.2 Porter’s Five Force Analysis
8.3 SWOT Analysis
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